Examining Bitcoin’s [BTC] $27,000 drop: Is it the desired opportunity for dip traders?

Bitcoin's price fell following the sale of BTC holdings by the US government. At its current price, many wonder whether or not a good buying opportunity has been presented.

, BTC traded at $27,403.54 at press time. While its price fell by 1% in the past 24 hours, trading volume was up by 56%.

However, new demand might be required to bring in the liquidity needed to initiate a price correction upwards. Without that, BTC’s price might continue to experience a decline. At press time, BTC sellers had control of the market as the Negative Directional Indicator of the coin’s Directional Movement Index rested above the Positive Directional Indicator .

Although coin distribution rallied significantly, two prominent indicators hinted at a possible buying opportunity.

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